Ghanaian reggae and dancehall artist Samini has urged younger artistes to invest their earnings in land rather than spending on depreciating assets.
According to him, land appreciates in value over time, while flashy things like cars lose their value shortly over the years.
Speaking on Hitz FM and monitored by NewsDesksGH on November 12, Samini revealed that buying land early in his career was one of the best financial decisions he made when he was younger.
“Buy a lot of land. It’s one of the things I did when I was very young,” he said. “When the money was coming plenty and I didn’t know what to do with it.”
He explained that the advice came from an older Rastafarian he frequently visited in his youth, who cautioned him about spending on cars that quickly depreciate.
“I used to buy different cars. I was young, 22. Anytime I’ll go and check the old man, I have a different whip. So he’s like ‘you see car, car depreciate. And you see land, land appreciate.’”
According to Samini, the elder told him that within ten years, a car bought today would lose most of its value, while land bought in the same period could increase a hundred folds.
Samini then encouraged today’s young musicians to learn from his experience, advising them to balance their image with wiser financial habits.
“If you’re listening to me as a young artist, though you see the flashy things, you like the flashy things, some of it is good for your branding and everything, but do things in moderation,” he said.
“Stack some of the money away. If you don’t know what to do with it, buy land with it.”
He noted that the reality in the market continues to prove how valuable land can become over time.
“You’ll be surprised how much a plot of land is in a place where five years ago it was sold for 5,000 cedis,” Samini said.
“If you don’t know what to do with the income, you’ve done everything you can for yourself and you can still see excess, buy land. I believe in that more than even investing in the banks,” he stressed.
